[Congressional Record Volume 141, Number 141 (Tuesday, September 12, 1995)]
[Senate]
[Page S13479]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


  PBS' ``THE AMERICAN PROMISE'' AND THE WOMEN SELF-EMPLOYMENT PROJECT

 Ms. MOSELEY-BRAUN. Mr. President, I call on all my colleagues 
to congratulate the producers of the new PBS documentary, ``The 
American Promise.''
  ``The American Promise'' chronicles the fact that grassroots 
democracy is still alive and well in this country.
  I am particularly pleased that the producers have chosen to highlight 
the Chicago Women Self-Employment Project [WSEP] which acts as a 
lending circle for microenterprises. This highly successful program 
helps women through rotating access to capital.
  Specifically designed to provide access to capital for low and 
moderate income women in America's cities, WSEP has helped thousands. 
In addition to its revolving loan fund, responsible for short-term 
loans of $100 to $25,000, WSEP provides entrepreneurial training and 
technical assistance. The training has proven indispensable as many 
participants come to WSEP with little or no formal business background.
  WSEP participates as an intermediary in the Small Business 
Administration's [SBA] Microloan Program. By doing so, it receives loan 
funds to be re-lent to micro-businesses. In addition, it receives SBA 
grants to provide technical assistance to its borrowers.
  The results have been impressive. WSEP has helped start over 500 
businesses. Of these, over 85 percent are still operating. Time and 
time again WSEP has proven that access to capital and access to 
training is a formula for success.
  More important than the numbers, however, is the impact WSEP has had 
on women's lives. In one case, a woman who used to live on oatmeal and 
barter for her rent now designs and sells upscale jewelry in Chicago, 
New York and St. Louis.
  Everyday WSEP makes a difference in the lives of its participants. 
But that's only part of the story. Because WSEP stimulates private 
investment in America's cities, local economies benefit. As program 
participants succeed, they give back to the program, and back to the 
community. Often, this comes in the form of new jobs. As many as 20 
percent of WSEP businesses report hiring additional paid employees. 
This, at a time when some urban neighborhoods have less than 1 percent 
private sector employment.
  The United States Senate is currently poised to make widespread 
changes in our welfare system. As we examine reform and what does and 
does not work, I think we could all benefit by studying the WSEP 
example. It is a program that gets results. The project has been so 
successful, I invited organizers to serve on my welfare reform advisory 
panel and authored an amendment which made permanent the Job 
Opportunities for Low Income individuals [JOLI] program. JOLI helps 
create job opportunities for welfare recipients and low income 
individuals by giving federal grants to private non-profit corporations 
to make investments in local business enterprises that will result in 
the creation of new jobs. SEP is positive proof that JOLI works.
  The Women Self-Employment Project's approach is distinctly grassroots 
success story. There is an old saying, give a man a fish, and he can 
eat for a day, teach a man to fish and he can eat for a lifetime. WSEP 
provides the fishing pole and the training. It makes success and self 
sufficiency possible.
  The American Promise reminds us that positive efforts are not only 
possible, but successful. In so doing, it provides a beacon of hope for 
us all.


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